USDJPY Daily Forecast: February 10

By IBT Staff Reporter On 02/09/10 AT 9:15 PM

USDJPY Forecast:

The USDJPY had a bullish momentum yesterday after breakout from the triangle, as you can see on h4 chart below. The bias is bullish in nearest term but I still believe that as long as price stay below 90.00, the bearish scenario should remains intact. Break above 90.00 area should trigger further bullish momentum testing 91.25 area but for me that fact will make the medium term outlook unclear. Immediate support at 89.00 – 88.50 area.